(MENAFN- QNA) Russia and India signed deals on nuclear energy and oil and gas exploration estimated to be worth billions of dollars on Thursday during an annual summit between their national leaders in New Delhi.
Following delegation-level talks between Russian President Vladimir Putin and Indian Prime Minister Narendra Modi, the two countries sealed a total of 20 agreements, covering the areas of trade, health and military training.
Modi stressed after the summit that Russia would remain a key strategic partner for India in the area of defence.
According to one key agreement reached during Putin's visit, the Russian state-owned atomic agency Rosatom plans to help build 12 nuclear reactors in India over the next 20 years.
The strategic vision document to strengthen cooperation in peaceful uses of atomic energy also said India would identify a second site, in addition to Kudankulam on the south-eastern coast, for Russian-designed nuclear power units.
"We have outlined an ambitious vision for nuclear energy of at least 10 more reactors," Modi said. "It will have the highest standards of safety in the world" and include equipment and components manufactured in India, he added.
Putin said the two countries had agreed to cooperate to build nuclear power plants for other countries as well.
India and Russia also signed a broad agreement for the joint exploration, production and supply of crude oil, as well as a joint study of a pipeline system connecting Russia with India.
Three related commercial agreements were signed between Russian and Indian companies, including one between Russia's state-owned Rosneft and India's private Essar Group for a 10-year supply of Russian crude oil.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.